REC records highest ever annual net profit
Notably, for the entire FY24, the company's net profit was Rs 14,145.46 crore, up from Rs 11,166.98 crore in FY23.
One of India’s largest power financier REC Limited is spearheading the mission to feed the medical staff in key government hospitals as well as poor daily wage labourers across the nation, through collaborative efforts.
REC Foundation, the CSR arm of REC Limited, has joined hands with TajSATS (a joint venture of IHCL and SATS Ltd) to distribute specially-made nutritious meal packets for medical staff in Safdarjung Hospital, New Delhi.
On a daily basis, 300 food packets are being delivered as a gesture of gratitude to the frontline healthcare warriors of New Delhi. Over 18,000 meals will be delivered in New Delhi through this initiative.
Advertisement
At the same time, REC has also collaborated with various district authorities, NGOs and electricity distribution companies (DISCOMS) and they all are distributing cooked meals and ration to the needy across the nation. This initiative was started when the country went under a nation-wide lockdown and will continue until the norms last.
As of May 24, 2020, the corporation has distributed more than 4.58 lacs kilograms of food grains, 1.26 lac meal packets, 9600 litres of sanitizers, 3,400 PPE kits and 83,000 masks.
REC Limited (formerly Rural Electrification Corporation Limited) is a Navratna NBFC focusing on Power Sector Financing and Development across India. It provides financial assistance across the power-sector value chain. Apart from this, REC is also the nodal agency for Govt. of India flagship schemes in the Power sector like Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY), Saubhagya etc.
Advertisement
